Hendrick announced the reserve figure during a presentation at the Fifth Mineral Economics Symposium sponsored by the Canadian Institute of Mining and Metallurgy in Toronto recently.
Hendrick said a $6-million exploration program is planned for the property this year. Noranda Exploration President John Harvey says there is potential to increase the tonnage at depth and along strike. Noranda Exploration is conducting the exploration work on behalf of Hemlo Gold.
The reserve figure is the first that Noranda has released for the property. The Ontario property was one of only three exploration projects referred to in Hendrick’s speech. The other two properties were the Noxon silver-copper deposit in Montana and the Tundra gold deposit in the Northwest Territories.
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